QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Wealth Alliance

Wealth Alliance lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,318 shares of the wireless technology company’s stock after selling 139 shares during the quarter. Wealth Alliance’s holdings in QUALCOMM were worth $769,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Moneta Group Investment Advisors LLC boosted its position in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth $1,467,351,000. Cowa LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth $94,000. Morgan Stanley raised its position in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QCOM. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays upped their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday. They set an “in-line” rating and a $177.00 price target on the stock. Piper Sandler upped their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $168.58 on Wednesday. The business has a 50 day moving average price of $164.11 and a 200 day moving average price of $142.05. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a market cap of $188.14 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.32 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Research analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. Insiders sold a total of 44,360 shares of company stock worth $7,184,678 in the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.